Government holding millions in student loan overpayments

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The government is sitting on millions of pounds owed to ex-students who have overpaid on their student loans

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Figures from the Student Loans Company , obtained by Research Professional News, show that between 2009/10 and 2017/18, a total of £307,821,092 was overpaid. Of this, £28,460,095 has not yet been refunded. The figures also show that between these years, 513,134 people in total had overpaid, and the average repayment was £597.

In the past overpayments happened because of the way SLC received repayment information. It was sent once every 12 months, at the end of the tax year in April. It meant that if a graduate repaid their loans during the tax year, for example in November, they will have been making overpayments for the rest of that tax year.SLC insists new rules meant that overpayments were now less likely and it actively contacts everyone who overpays to arrange refunds.

Source: Education Headlines (educationheadlines.net)

 

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If nobody want's it I'll have it !

That is most unfair.

Perhaps they can use it to offset the millions owed to them by all of the enitled shysters who have no intention if paying their loans back? 🤔

What? Who’s fighting to get their ££££ back? I would. It could be the new PPI Campaign. 😳

I got a letter from HMRC about a £35 (thirty five) pounds per month overseas pension that I forgot to put on my tax return.

That should make up for all those who have never paid a penny towards their further education.

Because UK is prolonging it’s free fall Great Depression for the UK coming up

Graduated 8 years ago.. never got a job from my degree.. . My current pay doesn't even cover the interest per year 😂 just keeps going up every year...

How many people take out loans and over pay much like the energy companies 🤷🏻‍♂️

Let's massively reduce the power of the state.

Didnt even pay mine back, not heard a whistle about it 🤣

Not surprised.

Money obsessed society these days...

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